LONDON, March 7 British online fashion retailer
boohoo.com will have a market capitalisation of 560 million
pounds ($936 million) when it lists on London's Alternative
Investment Market next week.
The firm, majority owned by its founders, the Kamani family,
said on Friday it had placed 600 million shares at 50 pence,
raising 300 million pounds and giving the implied market value.
Boohoo designs, sources, markets and sells own brand
clothing, shoes and accessories through its website to a core
market of 16-24 year-old consumers in the UK and globally.
Of the proceeds 240 million pounds will be used to repay
convertible loan notes held by the company's existing
shareholders. Fifty million pounds will be used to accelerate
the firm's expansion and enhance its working capital base.
Following the listing the board and the Kamani family will
hold approximately 44 percent of boohoo's enlarged share
Trading in boohoo shares will start on March 14.